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Newbie & lost, I need some help

Discussion in 'Accounting and Legal' started by JulioY, Mar 7, 2015.

  1. JulioY

    JulioY New Member

    Hello everyone,

    I am from Spain. Since I arrived in UK one year ago I am working in a company in a full time graphic designer position. So easy because I don't have to think in the taxes I have to pay or what papers I have to do, everything is done.

    Now I have the possibility to do two small graphic jobs in my free time. I have calculated that one of them won't be more than 90£ and the other no more than 175£. And of course I have to give them an invoice for each job. But like I said, this is not a permanent freelance job. Maybe I won't work again like a freelance for the rest of the year.

    And now what I have to do? For what I read I think I have to register me like a self employed and then I can create the invoices I need for the work. After that I have to pay my taxes and because it is a small job I can apply for exception to pay Class 2 contributions (I've already paid for National Insurance in my full time job). Is everything correct?

    And the questions:

    1.- How I know the taxes I have to pay in each invoice and in total?

    2.- When I have to pay the taxes if I going to register now? This year 2004-2005 or the next one?

    3.- Have I to pay the taxes before or after 5th of April?

    4.- When I have to apply for exception to pay Class 2 contributions (CF10)? Before or after the 5th of April?

    5.- And when I am finished the work what do you recommend me? Stay registered like a freelance or withdraw it? I understand that If I stay registered like a freelance without earn money I don't have to pay nothing (because of the exception to pay Class 2). Is that right?

    Sorry for my silly questions and thank you for everything!
     
  2. SandraGenJobs

    SandraGenJobs New Member

    Lupita likes this.
  3. JulioY

    JulioY New Member

    Thank you for the links Sandra and if someone have more advices to give me they will be welcome. Thanks!
     
    SandraGenJobs likes this.

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